Speaking about his bank’s American launch last month, N26 CEO Valentin Stalf said: “The US launch is a major milestone for N26 to change banking globally and reach more than 50 million customers in the coming years.

N26 is an app-based bank account (Credit: N26)

“We know that millions of people around the world, and particularly in the US, are still paying hidden and exorbitant fees and are frustrated by poor banking experiences.

“N26 will radically change the way Americans bank as it has done for so many people throughout Europe.”